AAON, Inc. (NASDAQ:AAON) Shares Acquired by Geneva Capital Management LLC

Key Points

• Geneva Capital Management LLC has increased its stake in AAON, Inc. by 13.1%, making it the firm's 6th largest position and representing approximately 2.8% of their portfolio.
• AAON recently announced a quarterly dividend of $0.10 per share, with a current dividend yield of 0.5% and a payout ratio of 21.05%.
• Wall Street analysts have mixed opinions on AAON, with one firm downgrading it to a "sell" rating while others set a "buy" rating and target price of $95.00.

Geneva Capital Management LLC increased its stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 13.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,897,728 shares of the construction company's stock after purchasing an additional 219,814 shares during the quarter. AAON accounts for approximately 2.8% of Geneva Capital Management LLC's holdings, making the stock its 6th biggest position. Geneva Capital Management LLC owned approximately 2.33% of AAON worth $148,269,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAON. Rakuten Securities Inc. increased its position in shares of AAON by 613.3% in the first quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock worth $25,000 after acquiring an additional 276 shares in the last quarter. Versant Capital Management Inc raised its position in AAON by 652.3% in the first quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock worth $26,000 after acquiring an additional 287 shares in the last quarter. Quarry LP boosted its holdings in shares of AAON by 49.0% in the fourth quarter. Quarry LP now owns 313 shares of the construction company's stock worth $37,000 after buying an additional 103 shares during the period. UMB Bank n.a. boosted its stake in shares of AAON by 81.2% during the 1st quarter. UMB Bank n.a. now owns 589 shares of the construction company's stock valued at $46,000 after buying an additional 264 shares during the period. Finally, Parallel Advisors LLC increased its position in AAON by 26.3% during the first quarter. Parallel Advisors LLC now owns 716 shares of the construction company's stock worth $56,000 after buying an additional 149 shares during the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AAON news, CEO Gary D. Fields sold 8,357 shares of AAON stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $98.66, for a total value of $824,501.62. Following the sale, the chief executive officer owned 26,491 shares in the company, valued at $2,613,602.06. The trade was a 23.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gordon Douglas Wichman sold 21,302 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $104.48, for a total value of $2,225,632.96. Following the transaction, the director directly owned 8,754 shares in the company, valued at approximately $914,617.92. The trade was a 70.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,634 shares of company stock valued at $3,470,491 over the last three months. Insiders own 18.70% of the company's stock.

AAON Stock Down 2.3%

AAON stock traded down $1.89 on Wednesday, hitting $81.49. 842,766 shares of the stock traded hands, compared to its average volume of 1,318,342. AAON, Inc. has a 1 year low of $68.98 and a 1 year high of $144.07. The business's fifty day simple moving average is $79.55 and its 200 day simple moving average is $89.80. The company has a current ratio of 2.77, a quick ratio of 1.80 and a debt-to-equity ratio of 0.29. The firm has a market cap of $6.63 billion, a P/E ratio of 42.89 and a beta of 0.94.

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 6th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, June 6th. AAON's payout ratio is currently 21.05%.

Analyst Ratings Changes

A number of research firms have recently issued reports on AAON. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 price objective on the stock in a research report on Monday, June 16th. Wall Street Zen cut shares of AAON from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $111.50.

AAON Company Profile

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.